Abstract: The Baobei gold deposit is located in the Early Carboniferous volcanic–sedimentary formation named as Tailegula group. The Baobei gold deposit is mainly composed of gold–bearing quartz veins. The major gold mineral is electrum, which mainly occurs as inclusions in arsenopyrite. Pyrite with electrum inclusions contains relatively higher As. The mineral paragenesis analysis suggests four stages of ore–formation including albite–quartz stage (I), electrum–pyrite–arsenopyrite–quartz stage (II), sulphide stage (III), and carbonatization stage (IV). The stages II and III correspond to the major periods of gold mineralization. The zircon SHRIMP dating for the zircons separated from the altered felsic tuff (the wall–rock of the gold–bearing quartz vein) gives a concordant U–Pb age of 328.1±1.8 Ma (MSWD=1.6, n =13).